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Trustco Bank IRA Manager in Albany, New York

Job Title: IRA Manager

Reports to: Assistant Vice President - Administration

FLSA Status: Exempt

Salary Grade: EX02

Supervisory Responsibility: Yes

SUMMARY:

The IRA Manager oversees operations and transactions involving Individual Retirement Accounts (IRAs) and Health Savings Accounts (HSAs). Monitors opening and closing of accounts, account distributions, rollovers, and customer inquiries. Ensures compliance with governmental regulations regarding IRAs and HSAs.

ESSENTIAL DUTIES AND RESPONSIBILITIES include the following. Other duties may be assigned by supervisor and/or Trustco Bank’s Board of Directors.

· Composes written correspondence, emails, tax corrections, research, and adjustments while analyzing situations to prevent any legal implications for the Bank.

· Monitors daily, weekly, and monthly reports, customer correspondence and the IRS tracking system.

· Reviews forms from branches and operations to ensure accuracy.

· Ensures compliance with government regulations, including account over-contributions, early distributions and required minimum distributions.

· Maintains records and is responsible for timely reporting.

· Trains bank employees on IRAs.

· Process data into the Bank’s system as needed.

REQUIRED EDUCATION/EXPERIENCE:

· An Associate’s degree or higher in a business-related field or equivalent level of education and experience.

· Effective verbal and written communication skills.

· Well organized with the ability to manage multiple tasks and work to time sensitive deadlines.

· Ability to work well independently and in groups.

· Working knowledge with Microsoft Office Programs; Excel and Word.

PREFERRED EDUCATION/EXPERIENCE:

· Prior Individual Retirement Account experience

· Master’s degree in business related field

POSITION TYPE/EXPECTED HOURS:

This is a full-time position. Office hours Monday – Friday 8:30am – 5:00pm. Evening and weekend work may be required as job duties demand.

TRAVEL:

Travel using personal vehicle, occasional overnight travel. Valid driver’s license required.

LANGUAGE SKILLS:

Must be able to speak, read, write, and understand the primary language(s) used in the workplace ; bilingual skills a plus. Ability to read, analyze, and interpret general business information, including but not limited to company policies and procedures. Ability to effectively present information and respond to questions from groups of managers and customers.

PHYSICAL DEMANDS:

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

  • This is largely sedentary role, requiring use of typical office equipment such as a computer, laptop and phone.

  • Ability to communicate both in person and/or by telephone.

WORK ENVIRONMENT:

The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.

For the most part, ambient room temperatures, lighting and traditional equipment as found in a typical office / retail environment.

OTHER DUTIES:

Please note this job description is not designed to cover or contain a comprehensive listing of all activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.

AFFIRMATIVE ACTION PLAN/EQUAL EMPLOYMENT OPPORTUNITY STATEMENT:

Trustco Bank is an equal opportunity/affirmative action employer. It is the policy of Trustco Bank to take affirmative action in affording equal employment opportunities to all qualified persons without regard to race, color, religion, sex, national origin, age, marital status, genetic information, disability or protected veteran status.

This includes, but is not limited to, the following:

• Hiring, placement, upgrading, transfer, demotion or promotion

• Recruitment, advertising or solicitation for employment

• Treatment during employment

• Rates of pay or other forms of compensation

• Selection for training, including apprenticeship

• Layoff or termination

It is the policy of Trustco Bank to cooperate to the fullest extent with the applicable regulations of the Civil Rights Act and any legislation on Equal Employment Opportunity.

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